Brazil’s crude exports fall in July

Oil

Brazil’s crude oil exports declined by 211K b/d m-o-m to 1.19M b/d in July, falling after previously reaching a four-month high in June, according to preliminary data from Brazil’s trade ministry. Shipments of fuel oil increased by 35K b/d m-o-m to 336K b/d, the highest level since April. Total imports of clean oil products rose by 203K b/d m-o-m to 510K b/d, supported by arrivals of naphtha which increased by 100K b/d m-o-m to 156K b/d.